Adobe Analytics announced that holiday shoppers spent $19.7 billion so far, a 17.5% increase from a year ago.
Consumers spent $2.7 billion on Veteran’s Day, a 38% increase from the year ago holiday, as retailers are pushing heavy discounts to offset the late Black Friday weekend, which doesn’t arrive until the end of November this year.
Adobe reaffirmed its online holiday forecast of $143.7 billion being spent this season on holiday shopping, representing 14% growth from a year ago.
Smartphones are continuing to gain importance as a shopping tool, as 34.5% used mobile for their holiday purchases, an increase of 15.3% from a year ago.
“Holiday shopping has begun in earnest with consumers pouring into retailers’ websites to find the early deals of the season,” Taylor Schreiner, principal analyst at Adobe Digital Insights, said in a company release. “All signs point to strong sales growth this year, with consumers buying almost 50% more than last year through their phones.”
Schreiner noted that promotional prices are much steeper this year, with television prices alone down an average of 15% from October prices.